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Choose the best term for your needs.
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With a certificate of deposit CD account your money is placed in the account for a set amount of time, called a term. In exchange for leaving your money in the CD you’ll earn a fixed interest rate on your money unlike a traditional savings account where the rate is variable and subject to change.
You can withdraw your money early, but keep in mind that there may be a penalty if you withdraw your CD principal amount before the maturity date. The early withdrawal penalty depends on the term of the CD.
Yes, you can add POD (Payable-On-Death) beneficiaries to your account.
Yes. Your accounts at Waterman Bank are insured by the FDIC up to the maximum amount allowed by law.
There is no minimum balance to open a CD. Deposit what works best for you.
Once your CD matures, you have a 10-day window called a grace period where you have three choices:
If you do not withdraw your money, Waterman Bank will automatically renew your CD, although it may be at a different rate and term than the original account. Please see full terms and conditions for details.
At Waterman we believe in serving everyone in our communities. We work to understand your needs and find the right solutions to meet them. Whether your goals are big or small, we are only a phone call or email away.
*APY – Annual Percentage Yield is accurate as of 9/22/2023 and is subject to change without notice. Fees may reduce the earnings on the account. A penalty may be imposed for early withdrawal from a certificate of deposit. At the end of the term, the 8, 13 and 19 month CD will automatically convert to the standard 12 month CD term and will have the same rate and other features applicable to the 12 month CD.